QEW vs. QQQY

Last updated Jun 4, 2026

QEW (Invesco QQQ Equal Weight ETF) and QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) are both Nasdaq-100 funds. QEW is passively managed, while QQQY is actively managed. Their correlation of 0.87 suggests significant overlap in exposure. QEW charges 0.25%/yr vs 0.99%/yr for QQQY.

Performance

QEW vs. QQQY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ Equal Weight ETF (QEW) and Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QEW

• 1D: -0.11%
• 1M: 10.55%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQY

• 1D: -0.36%
• 1M: 9.64%
• YTD: 19.07%
• 6M: 19.11%
• 1Y: 36.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

QEW vs. QQQY - Yearly Performance Comparison

	2026 (YTD)
QEW Invesco QQQ Equal Weight ETF	21.49%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	23.15%

Correlation

The correlation between QEW and QQQY is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 19, 2026	0.87

Return for Risk

QEW vs. QQQY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QQQY

QQQY Risk / Return Rank: 74
QQQY Sharpe Ratio Rank: 81
QQQY Sortino Ratio Rank: 73
QQQY Omega Ratio Rank: 80
QQQY Calmar Ratio Rank: 65
QQQY Martin Ratio Rank: 73

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QEW vs. QQQY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Equal Weight ETF (QEW) and Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	QEW	QQQY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	9.75	1.25	+8.50

Drawdowns

QEW vs. QQQY - Drawdown Comparison

The maximum QEW drawdown since its inception was -4.15%, smaller than the maximum QQQY drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for QEW and QQQY.

Drawdown Indicators

	QEW	QQQY	Difference
Max Drawdown Largest peak-to-trough decline	-4.15%	-19.05%	+14.90%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.14%	—
Current Drawdown Current decline from peak	-0.11%	-0.36%	+0.25%
Average Drawdown Average peak-to-trough decline	-0.57%	-2.91%	+2.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.61%	—

Volatility

Volatility by Period

	QEW	QQQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.21%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.30%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.78%	13.67%	+2.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.78%	14.75%	+1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.78%	14.75%	+1.03%

QEW vs. QQQY - Expense Ratio Comparison

QEW has a 0.25% expense ratio, which is lower than QQQY's 0.99% expense ratio.

Dividends

QEW vs. QQQY - Dividend Comparison

QEW has not paid dividends to shareholders, while QQQY's dividend yield for the trailing twelve months is around 34.34%.

Position	TTM	2025	2024	2023
QEW Invesco QQQ Equal Weight ETF	0.00%	0.00%	0.00%	0.00%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	34.34%	45.34%	83.34%	20.64%

Frequently Asked Questions

Can I hold both QEW and QQQY in my portfolio?

QEW and QQQY have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QEW or QQQY?

On fees, QEW is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QEW or QQQY?

QEW is cheaper with a 0.25% expense ratio, compared with 0.99% for QQQY.

Which ETF pays a higher dividend yield, QEW or QQQY?

QQQY has the higher dividend yield at 34.34%, compared with 0.00% for QEW.

What is the main difference between QEW and QQQY?

They also come from different issuers: Invesco and Defiance. Their fees differ too: 0.25% for QEW and 0.99% for QQQY.